GROW » Blog » Top Signs You Have What It Takes to Start Your Own Business

Published: May 10, 2018

Have an idea you just can’t shake? Maybe you’ve even done some market research and you know there’s some serious potential behind it. This could be a sign you’re ready to take the plunge into small business ownership (aka being an entrepreneur). In honor of Small Business Week taking place April 30th – May 5th, we’ve identified some sure signs that you are ready to become an entreprenuHER.

You’ve Got Passion

Passion and drive are key to starting any new venture. Make sure the business idea is stemming from positive passion, something with longevity and teeth, not job insecurity or current occupational frustration. There’s a quick fix for that, and this isn’t it.

You’re a True Believer

Don’t expect everyone to openly embrace your business with cheering and high fives. There are going to be doors closed and critical assessments. People will try to poke holes in your balloon, and that’s ok. That’s how you get stronger and your ideas get better. But, without a big belief in your business and ever-thickening skin, the walls will start to crumble.

You’ve Done Your Research

You may love your business idea, but is there a market for it? In other words, you don’t just have a feeling that other people will pay money for your product or service, you have the data and research and to back up the claim.

You’ve Got a Plan

Before you jump in headfirst, make sure you’ve got a strong business plan with tangible budgets, goals, and benchmarks along the way.

You’ve Thought About Branding

A brand is your virtual and physical calling card. It’s how your customers recognize you and connect with you. While this isn’t urgent, it is something to consider as things get more serious.

You’re Ready to Accept Help

No woman is an island and the “I can do everything myself” mentality won’t get you very far – but it’s a sure-fire way to get burned out. Starting a business is a big deal and it’s important to recognize your strengths and weaknesses in advance, then surround yourself with those who you can learn from and grow from.

You’re OK with Risk

You understand that there is risk involved in any small business venture, and you’re ready to accept that. While you aren’t letting fear get in the way of success, you are also being realistic about you and your family’s financial stability.

You Have an Entrepreneurial Mindset

Meaning you are ready and willing to put in the work and stick with it through the good times and bad. You are drawn to opportunities, innovation and new value creation.

Take some time this week to think through your passions and ideas, and see where your heart and mind land. With Small Business Week in full swing, this is also a great opportunity to take advantage of the various talks, webinars and free services being offered in Michigan and around the country.

In addition, the SBA has arranged a series of virtual conferences on topics that include:

How Changing Consumer Behavior Impacts Your Business

Email Marketing

S. Economic Outlook and Its Impact

Grow Your Business in 2018

Sharing Your Story Through Video

Click here to register for any of the these conferences and check out our line-up of workshops and trainings offered on a monthly basis to help everyone in our West Michigan community become successful entrepreneurs and small business owners.

GROW provides its services on a nondiscriminatory basis. Language assistance services are available for limited English proficient individuals.

Mission:

Grand Rapids Opportunities for Women (GROW) is a service focused on women at various stages of business ownership. We are the entrepreneurial resource to help women take the next step, empowering and supporting them with professional expertise for a lifetime.

Equal Opportunity

Note that GROW is an equal opportunity employer. We take pride in the diversity of our staff, and seek diversity in our participants.